How Fitness Clubs Increased Efficiency with Dynamics GP
Dynamics GP can dramatically increase the efficiency of your fitness club’s accounting by introducing a high level of flexibility, automation of complex processes, and easy integrations – things you just can’t get with an entry-level accounting system. If your fitness club has outgrown QuickBooks, Dynamics GP can completely transform your financial management.
Just think about how much time you could spend on more important work if your consolidations, reporting, month-end close process, and other routine tasks suddenly happened in a few minutes instead of a few days. Our fitness club clients are loving the efficiencies they’ve gained with Dynamics GP and you’ll hear their real-world experiences throughout this article.
Let’s take a look at how other fitness clubs have benefited from upgrading their accounting software to Dynamics GP, and how you can too.
Accomplish Tasks in Seconds, Not Days
With Dynamics GP, you can quickly reduce manual processes compared to using QuickBooks or another entry-level system. For fitness centers with multiple locations, employees, members, and complex financial reporting needs, reducing manual data entry is critical to success. We can setup a variety of unique automations, and one particularly valuable feature you’ll be interested in is our ability to integrate your different fitness club applications with Dynamics GP. In addition, the automated Report Writer means you don’t need to manually create financial reports in Excel.
Advantages reported by other fitness clubs:
1. It’s now possible to export data from our financial system and import into GP with simple cut and paste functionality. This reduces what would be hours’ worth of manual journal input for information on accounts receivable, membership info, and revenue.
2. Before implementing the new system, it was necessary to manually validate expenses and allocate revenue for each club. This entire process has now been automated, resulting in major time savings.
3. Accounts Payable has become more efficient. An integration with the expense reporting provider allows the data file to be uploaded into Microsoft Dynamics GP each month. This saves multiple days’ worth of labor compared to the prior manual data entry process from card holders.
Replace Manual Processes with Time-Saving Automations
Of course, reducing manual processes will help you save time. However, you might be blown away by just how much time you can save with the automated workflows we can setup in Dynamics GP. This is most easily demonstrated with these real-life examples of other fitness clubs:
4. By integrating Dynamics GP with our payroll system—with 2,000 employees across 20 locations and 2 monthly payrolls—we are now able to complete the payroll process in seconds. (This company formerly used a manual process to copy over information from the payroll system into the previous accounting systems, which took days to complete.)
5. Before implementing Dynamics GP, we were only able to get closing done by the 15th or 16th of each month. After implementation, the efficiency and speed has reduced the time needed for close to just 9 business days—that’s nearly a week !
6. By automatically consolidated reporting in a single solution with hundreds of out-of-the-box reports and an easy-to-use Custom Report Writer, the time it takes to deliver financial statements has been reduced substantially. This functionality has eliminated the need to export data into Excel and has improved data integrity, all of which reduces time needed for month-end close.
7. Integrations into other business systems like payroll, membership billing, account, CRM and accounts payable have reduced manual data entry from hours (or even days!) down to a few seconds.
Real-time Visibility Across All Locations
The ultimate goal (and greatest value) of Dynamics GP is giving you more time to focus on improving and growing your fitness club—and that takes 360-degree visibility into all areas of your business. In the end, consolidated data and actionable insight will allow you to make better business decisions, much faster. Here’s how other fitness clubs said they benefited:
8. With data at the fingertips of the people who need it, decision-makers have been able to identify action trends faster and then make better business decisions.
9. Data consolidation has improved, with the system allowing fixed assets on a club level that can be rolled up to corporate level for tax and audit purposes, and flow automatically from accounts payable to fixed assets to general ledger.
Want a more efficient fitness club?
To learn how California Family Fitness Center reduced countless hours of accounting work to just seconds when they ditched QuickBooks for GP, read the case study.
Since 2001, BroadPoint has helped over 600 organizations, including fitness centers and health clubs, accelerate growth. Contact us to learn more about how we can help you get to the next level.